The Market Report with Katie Pilbeam. FTSE 100 headed towards the 7,000 mark as investors shrugged off inflation and monetary policy concerns. London’s main index advanced 24 points to 6,964 in early trading.
Deliveroo PLC (LON:ROO) said orders more than doubled in the quarter to March. The delivery service however expects the rate of growth to slow down as lockdowns are eased.
THG PLC (LON:THG) or The Hut also did better than expected in December. The online retailer kept its revenue growth forecast at 30-35% but has increased its budget for acquisitions.
Cryptocurrency exchange Coinbase made a rip-roaring debut on US markets overnight with its value briefly hitting US$100bn or more than BP. Bitcoin hit a record US$63,000 ahead of the Coinbase listing.
Travis Perkins PLC (LON:TPK) confirmed the Wickes chain will start trading separately in London on 28 April after its demerger. Both companies are enjoying strong trading as people turn to DIY projects during lockdowns.
Naked Wines Plc (LON:WINE) said sales in the year to March 29 came in ahead of guidance after strong performance in the US. The online wine retailer posted sales growth of 68%, though it was forecast to surge 55-65%, with US revenue climbing by 75% to over £150mln and now accounting for 45% of the total.
Iofina PLC (LON:IOF) said there has been a strong recovery in the iodine market with demand at pre-pandemic levels. A backlog of deferred orders pushed first-quarter sales of its crystalline end-product to record levels.